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Simple Moving Average indicator

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Posted by : NIFM
12 January, 2015, 10:35 PM
Simple Moving Average indicator
MCX Silver March contract 121 rupees down on Friday to settle at 36833. Silver is taking support around 50 days SMA near 36449. Silver has settled well with a doji candlestick pattern near key support hints state of indecision. Today’s supports near at 36500-36400 any move below these levels then the next level are 35900-35800. If stable above 35600 remains bullish and recovery above 37200 would bring 37700-38200-39000 and more upside. Mcx silver trading range for the day is expected among the key support at 36400 and resistance at 37200.

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